Hertz has announced that it is on track to complete a rotation of its fleet by the end of 2025, according to executives on the fourth quarter earnings call. The company said it sold 100,000 vehicles in Q4, compared to over 30,000 the year prior.

“As of year-end 2024, over 60 percent of our fleet was comprised of vehicles one year old or less,” Hertz CEO Gil West told analysts. “We remain on track to substantially complete our fleet rotation by year-end 2025.” In addition, West said the company’s EV fleet had been reduced by 30,000 vehicles.
The fleet rotation comes as Hertz reported fourth-quarter revenue of $2 billion, a drop of 7 percent compared to the same period last year. The company posted a net loss of $479 million for the quarter, and a net loss of $2.86 billion for the year, compared with net income of $616 million in 2023.